Cryptocurrencies are used for digital transactions either to buy things from an online store or to do online money transactions. Cryptocurrencies are totally different from those of liquid cash or currencies which are stored in your bank. Since the transaction of money is done digitally without any paper currencies involved to do the transactions there are several encryption methods used and to carry out securely the owner of the bitcoin has to decrypt a private key to complete the payment.
Reasons why you should use cryptocurrencies
If you hold any of the bitcoin cryptocurrencies there are several reasons why you should prefer using that to do online transactions. Below are some of the reasons for using cryptocurrency bitcoins for your transactions.
Secure and Safe
It is one of the best reasons why one should use cryptocurrencies for the transaction. It is secure because there are several protocols used to secure the cryptocurrency in your bitcoin wallet. And it is safe because to continue the transaction one can decrypt a private key which is sent by the person who is initiating the transaction. So, there are very fewer chances of fraud.
Instant transfer and settlement
Since every transaction of cryptocurrencies is done online, any transfer done is settled within no time. To make any transfer or settlements you just need a smart device and an internet connection, and you can transfer and ask for payments via bitcoin.
A Growing Market
Ever since the launch of bitcoin, the market of cryptocurrencies is growing day by day. To store all you need is a bitcoin wallet and to transact or payment you need to have a private key for decryption, and you are done with your bitcoin bank and wallet.
Play Online Games
If you are interested in the casino and do not want to use your liquid money, there are several online casinos website which accepts bitcoin casino currencies. There are several other online games which accept cryptocurrencies.